WITH all the speculation that Liam Gallagher might be setting up a "supergroup" in his spare time, Oasis fans must be beside themselves with worry.

According to rumours, he was said to be in talks with former Stone Roses guitarist, John Squire, and George Harrison's son, Dhani, about forming a new band.

However, fear not, The Diary caught up with Squire himself to find out the truth. And, while he won't rule out the possibility of working with Liam, he tells me he has no intention of splitting up Oasis.

"I first heard about it being in the papers when my cousin rang and told me I was supposed to be forming a group with Liam," he tells me.

"I worked with him on a Seahorses song a while ago and he gave me some of his songs last time I was in London. I would love to work with him, but I'm not on a mission to break up Oasis.

A foray back into the rock spotlight would be a change of pace for Squire, who spends a lot of time these days with his family at his remote Cheshire farmhouse.

However, he did go on a small tour following the release of his second solo album, Marshall's House, and he still has the odd foray into town.

"I really enjoyed being back on the road, but it was very brief, it's not the way it used to be," he laughs. "Although it was easy for an old guy.

"I do these kind of things occasionally with my old Stone Roses mate, Mani, but last time I tried it, I threw up in his wife's shoes."

In recent months the guitarist-turned-painter - who created the Jackson Pollock-style Roses album covers - has been concentrating on collecting art for his exhibition. The display of work, from 1988 to 2004, opens at the Great Northern development in the city centre tonight (see article below).

"My granddad used to work in that building when it was a rail goods yard, so it will be a big family event," says Squire.